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Oracle Announces New Release of Oracle Financial Services Basel II that Enables Banks to Meet Islamic Financial Services Board Guidelines for Capi - Oracle Announces New Release of Oracle Financial Services Basel II that Enables Banks to Meet Islamic Financial Services Board Guidelines for Capital Adequacy
Oracle Announces New Release of Oracle Financial Services Basel II that Enables Banks to Meet Islamic Financial Services Board Guidelines for Capi

 

PRZOOM - /newswire/ - Toronto, Ontario, Canada, 2011/09/19 - Oracle Announces New Release of Oracle Financial Services Basel II that Enables Banks to Meet Islamic Financial Services Board Guidelines for Capital Adequacy. NYSE, NASDAQ: ORCL

   
 
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Leading Application Supports Financial Services Institutions in Meeting Regulatory Capital Requirements Around the Globe

Oracle today announced the new update of its leading Basel II application that provides open, quick, out-of-the-box compliance with Basel II guidelines in multiple jurisdictions, while enabling strategic decision making and capital planning with the extensibility to meet future regulatory requirements.

With this new release, Oracle Financial Services Basel II now supports the capital adequacy compliance requirements for Islamic banking products based on Sharia law. The Islamic Financial Services Board (IFSB) provides guidance on how to apply Basel II regulations for banks offering Islamic banking products.

Using Oracle Financial Services Basel II, Islamic banks and financial services institutions offering Islamic banking products can facilitate compliance with IFSB guidelines and standardize their approach to identifying and measuring risk-based capital under Basel II.

The easy-to-deploy application fully covers the IFSB regulations on computation and disclosure. Fully transparent and auditable, Oracle Financial Services Basel II eases supervisory review.

Oracle Financial Services Basel II enables regulatory capital computation at granular and aggregated levels and the new attribution analysis capability provides an in-depth understanding of cross-time changes in risk weighted assets (RWA) and capital adequacy ratios (CAR).

With Oracle Financial Services Basel II, banks can simultaneously apply different capital adequacy approaches against different portfolios enabling institutions to carry out impact analysis of alternate options/approaches available to them under jurisdiction-specific guidelines. This allows for the selection of the best set of options/approaches for their specific capital adequacy strategies.

Oracle Financial Services Basel II is fully engineered to work with existing Oracle Financial Services Analytical Applications, and integrates easily with other third-party solutions, enabling customers to further leverage their current IT investments.

Supporting Quote
“As Islamic banking operations scale and expand into new geographies, there is an urgent need to reconcile their approach to risk and capital adequacy with Basel and other global regulatory standards,” said S. Ramakrishnan, group vice president and general manager, Oracle Financial Services Analytical Applications. “Oracle supports the emerging analytical requirements of Islamic banking institutions with easy-to-deploy and comprehensive solutions, such as the newest release of Oracle Financial Services Basel II, which facilitates compliance with IFSB capital adequacy guidelines and Basel II.”

About Oracle
Oracle (oracle.com) is the world's most complete, open, and integrated business software and hardware systems company.

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Oracle and Java are registered trademarks of Oracle and/or its affiliates. Other names may be trademarks of their respective owners.

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Mary Tobin - O’Keeffe & Company
P: +1.503.658.7396 / E: mtobin[.]okco.com.

 
 
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Oracle Announces New Release of Oracle Financial Services Basel II that Enables Banks to Meet Islamic Financial Services Board Guidelines for Capi

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